Commercial Real Estate Financing
New Owners Are Needed
It turns out that the original owners of the popular pet store decided to make a move across the country. The doors to the pet store were closed and it seemed as if the business would no longer be available for patrons in the city.
Thankfully, someone stepped in to take charge of the situation. A man who had previous management experience wanted to take on reopening the pet shop. The only problem was that it would cost a good chunk of change to do it. While the potential new owner had some savings to put into it, he wouldn’t have enough to handle it all on his own.
What Does It Take to Reopen a Pet Store?
Before the man interested in the pet store jumped into the process, he researched to see what kind of investment would be needed. In addition to leasing the building, it would need to be stocked and staffed. It seemed like something that could add up fast.
On the other hand, the pet store had always been profitable so it seemed like a gamble worth taking. After looking into the price for all the pet shop needs, he determined he would need about $500,000 to get things going smoothly so the store could run for decades more.